Post Utme Rhema University 2024 Economics Question 16

Practice objective / multiple choice question 16 from the 2024 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2024 Economics Objective / Multiple Choice

Question 16 POST_UTME_RHEMA_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's \cost function is given by C(x) = 2x^2 + 5x + 10. If the firm's revenue function is R(x) = 20x - 0.5x^2, what is the profit function?

Answer Options

Correct Answer A. \text{P}(x) = 15x - 1.5x^2

B. \text{P}(x) = 15x + 1.5x^2

C. \text{P}(x) = 15x - 2x^2

D. \text{P}(x) = 15x + 2x^2

Correct Answer

Correct Option:

\text{P}(x) = 15x - 1.5x^2

About This Question

This is Post Utme Rhema University 2024 Economics Question 16. It is one of the objective questions from the 2024 Post Utme Rhema University Economics examination.

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